Sensex down 200 pts, Nifty tests 21,650; IT, FMCG slip

Benchmark indices turned volatile after a rather quiet start to the trading session on Monday, as select FMCG shares came under selling pressure.

The S&P BSE Sensex, which, touched a high of 72,182 in early deals, had slipped into red and was down over 100 points at 71,910 levels. The NSE Nifty 50 had slipped below the 21,700 levels.

Among individual shares, Titan gained 2 per cent. Tata Motors, HCL Technologies, Tata Steel and Larsen & Toubro were the other prominent movers. On the other hand, Hindustan Unilever, ITC and HDFC Bank were the key draggers.

In the broader market, the BSE MidCap index was almost unmoved, while the SmallCap added 0.3 per cent.

Elsewhere in Asia, Hang Seng tumbled nearly 2 per cent, and Shanghai was down almost 1 per cent. Straits Times and Kospi were flat, while Taiwan advanced 0.5 per cent.

So far in the first week of 2024, FIIs net bought shares worth Rs 3,290 crore. On the other hand, domestic mutual funds were net sellers of nearly Rs 7,900 crore.